This Week's Houston Deal Sheet

2016 is the year of co-working in Houston. The expansion continues Downtown with the announcement of Station Houston's new home. The tech innovation hub will occupy 25k SF on the 23rd and 24th floor of 1301 Fannin Downtown. 

“Excited is an understatement,” says Station co-founder/CEO John Reale. "When we launched Station in March, we set out to understand the impact our team could have on early stage tech startups, and how engaged the community would be to drive innovation. The results have overwhelmingly validated our thesis." CBRE's Matt Dickson repped Station Houston.

LEASES

Aesbus Co leased 5,600 SF at the Park At Champions I building at 13910 Champion Forest Drive in Houston. Moody Rambin's Terri Torregrossa repped building owner Champion Texas Properties. Cushman & Wakefield's Chad Beck repped the tenant.

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Ideal Products of America signed a new 28k SF industrial lease at Port 225 industrial park, at 3009 Hwy 225 in Pasadena. JLL’s Richard Quarles repped the tenant. Transwestern's Jude Filippone repped the landlord, LIT Industrial.

SALES

CBRE's Richard Rizika repped JW Rich Investment in the sale of West Road Collection, a 98% leased 66k SF shopping center in the Greenspoint area. JLL repped the buyer, Hass Holdings. The $15M price tag is one of the highest prices per square foot in Greenspoint, further signifying the intense demand for retail space in Houston.

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Berkadia’s Ryan Epstein and Jennifer Ray finalized the sale of Coles Crossing to Venterra Realty on behalf of a publicly traded REIT. Coles Crossing Apartments is a 370-unit Class-A apartment community in the Coles Crossing master planned development.

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CBMJ Investment's Christopher Bran bought 3412 Graustark St, the sister property to 3414 Graustark, an eight-unit complex. Black Label Commercial Group's Jeremy Bran brokered.
 
DEVELOPMENT
 
A second Grand Parkway Marketplace shopping center has been announced for the intersection of Spring Stuebner and Kuykendahl roads near the Grand Parkway. Developer Kimco has locked in two anchors, Hobby Lobby and Academy Sports + Outdoors, for Grand Parkway Marketplace II.